P.R. Laws tit. 31, § 4352

2019-02-20 00:00:00+00

§ 4352. Losses and profits—Designation of shares by third person

If the partners have agreed to intrust to a third person the designation of the share of each one in the profits and losses, said designation can be impugned only if it has evidently been made contrary to equity. In no case shall the partner, who has commenced to execute the decision of the third person or who has not impugned the same within a period of three (3) months, counted from the time he had knowledge thereof, object thereto.

The designation of the losses and profits cannot be intrusted to one of the partners.

History —Civil Code, 1930, § 1581.